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Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
 Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this publication, the former figure being the highest it has seen since December 2014.
According to Allied's Research Analyst Gerry Lathrop, this has been in part due to the weakened US dollar, a massive decrease in the total global crude storage, as well as the highest rate of OPEC conformity to their oil production cuts, which was announced this past week in the Joint Ministerial Monitoring Committee (JMMC), in Muscat, Oman. The committee is made up of OPEC and non-OPEC member states, and although its primary goal was not to discuss further production cuts, the question was on the table as to whether they would continue their plan through to 2019.
The answer to that is very much like a social media relationship status, “Its Complicated”. As previously mentioned, oil prices are hovering around a 3-year high, having increased by at least 10% since OPEC’s last meeting in Vienna this past November, and more than 50% from 6 months ago.
On the supply side, Gerry Lathrop said, the number of US oil rigs in 2017 and 2018 reached a new high, surpassing the number of rigs operating in 2016, and leading to a 16% rise in US oil production which peaked at around 9.75m b/d. The International Energy Agency on Friday raised its forecast for US production growth to 1.35m b/d for this year, making up by far the biggest chunk of supply growth outside of OPEC countries. The IEA then went on to say, US crude production is on course to overtake Saudi Arabia and rival Russia, as it made an upward revision on its 2018 growth forecast and stressed that “explosive” expansion in shale was offsetting OPEC-led supply cuts. The IEA, which is the latest body to raise US estimates, following the US energy department’s statistics arm and OPEC’s own research unit, has said: “This year promises to be a record-setting one for the US.”US growth of nearly 1.4m barrels a day, to a record 10.4m b/d, will help propel non-OPEC supply by 1.7m barrels a day in 2018 (Total output from outside the cartel is forecast to reach 59.8m b/d), dwarfing the level of supply cuts in OPEC crude output.
Gerry Lathrop further commented, but it's not all smooth sailing for people in the downstream oil market, the recent OPEC-led rally in crude prices is hitting refinery profits hard, flashing warning signs over oil’s Bull Run. Higher oil prices typically quench consumption and squeeze profit margins at refiners that convert the feedstock into products. Benchmark profit margins in key refining hubs dropped sharply in recent weeks - by over 50% in the U.S. Gulf Coast and northwest Europe, Reuter's data shows - increasing expectations that some refiners will reduce operating rates. However, a wave of refinery maintenance scheduled in spring could eventually put a downward pressure on crude itself. According to the IMF’s most recent upward revisions on its estimates for global economic growth, we are currently witnessing some of the strongest growth figures in years and these (relatively) low oil prices could well boost global oil consumption by a further 1.3m b/d this year, a number the IEA acknowledges is “conservative” compared with other forecasts. Others have predicted demand growth could approach 2m b/d this year, more than double the rate of 2011-2014. Given the above, 2018 could well prove to be the turning point in the tanker market that all of us have been hoping for or at least the spark that sets it in motion.
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Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 o ...
Wednesday, 14 February 18
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
The second month of the year is traditionally a particularly interesting one for the shipping industry as a whole and even more importantly for the ...
Monday, 12 February 18
PANAMAX: WITH LIMITED FRESH ENQUIRY IN ALL AREAS, SPOT MARKET RATES DRIFTED LOWER THROUGHOUT THE WEEK - BALTIC BRIEFING
Capesize
A switch to the Atlantic with rates firming as charterers seemed keen to fix and tonnage was tight, prompting a recovery in rates. Trans ...
Monday, 12 February 18
WORLDWIDE: 'DEMURRAGE CLAIMS' FOR THE PURPOSES OF DOCUMENTARY TIME BARS
KNOWLEDGE TO ELEVATE
On 2 February 2018 the Commercial Court allowed an appeal from a decision of the Arbitration Tribunal in Lukoil Asia Paci ...
Saturday, 10 February 18
COAL INDIA ON PATH OF SUSTAINABLE PRODUCTION GROWTH AND SUPPLY TO POWER AND NON POWER SECTOR - PIB
Supply of 371.8 MT of Coal to Power Sector and 103.1 MT Coal to Non-Power Sector Achieved in 2017-18 Till January,2018 Average Rake Loading To The ...
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Showing 1806 to 1810 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Thai Mozambique Logistica
- VISA Power Limited - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- The University of Queensland
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
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